GAP 24 Closing the coverage gap for leased vehicles
What very few people know: comprehensive insurance for vehicles that are leased or financed does not mean "all inclusive". Because in the event of a total loss, the car insurance only pays the current value. This is usually significantly lower than the remaining claim in the leasing or financing contract. You pay the difference. With the difference in receivables insurance (GAP24), Basler offers you an excellent opportunity to exclude this risk. In these cases, GAP24 not only covers the difference. Additional costs for a replacement vehicle or an overnight stay are also covered. Best of all, you can still change your car insurance at any time. Protect yourself from nasty surprises... Total loss risk: It hits more than you think. The statistics speak for themselves: every twentieth vehicle suffers a total loss. Total losses account for more than 20% of the total claims expenditure in the German insurance market. This results in a dangerous insurance gap. The case law is clear: you pay the difference, as soon as the repair costs exceed 60% of the replacement value, the leasing contract usually ends. And there is almost always a so-called claim difference - in English a "gap" (gap) that we insure for you. For most vehicles, the loss in value is 15% or more immediately after registration. After 12 months, it averages 24.2%. In the event of a total loss, motor vehicle insurance only reimburses the replacement value of the vehicle – also known as the current value. This also applies to fully comprehensive insurance. However, this value is usually lower than the transfer value for leasing or the remaining debt for financing. The difference is often several thousand euros. Some insurance companies offer you what is known as “car gap coverage” for inclusion in the regular car insurance, but here, too, only the basic costs are usually reduced. Put your insurance to the test and ask: "In the event of a total loss, who will bear the costs for the rental car until the next vehicle is delivered again...?" In the event of liability damage, you must claim your own comprehensive insurance and will be put back in the SFR class. In addition, you have to pay your deductible yourself. A down payment does not take into account the car GAP insurance. You also pay a surcharge every year in the car insurance, even if you no longer have any GAP risk. This insurance protection usually only applies to leased vehicles. Financed vehicles cannot be insured here. We therefore strongly advise taking out "Optimal" coverage with GAP24. You can also see the performance of the different variants in our comparison that is available for download. Do you need help dissolving the existing motor vehicle gap coverage, or do you have further questions? Call us !
